Mosaic Raises $18M in Series A Funding Led by Radical Ventures

Mosaic is building a platform for investors and their advisors that replaces manual Excel-based deal modeling. It combines rules-based calculations with AI to automate data entry and workflows, helping teams work faster, reduce errors and focus more on decision making rather than repetitive tasks.

Mosaic is used by major private-market firms, including Warburg Pincus, Bridgepoint, CVC, New Mountain Capital, and Evercore. Customers say it can make deal analysis up to 20 times faster, while removing common spreadsheet errors through its rules-based system.

In 2025, Mosaic was chosen by five of the top ten global private equity firms as their AI deal modeling platform, and by two leading investment banks to improve how they analyze and model transactions for clients.

Mosaic Autopilot lets users start building financial models by simply sending an email to its AI agent, “Mo.” The system reads documents such as CIMs, applies the firm’s settings, and returns a ready-to-use model in about 5 minutes.

Unlike Excel copilots and other probabilistic tools, Mosaic is designed to produce consistent, audit ready models that teams can standardize across workflows, helping build institutional knowledge and improve decision making over time. All models are stored in a centralized, client-specific database, allowing firms to analyze their deal history, compare assumptions and benchmark results against real outcomes.

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"There's a ton of noise in the financial services world right now when it comes to AI tools. Unfortunately, the vast majority of these offerings overpromise and underdeliver, and are not delivering real value to firms," said John Megrue. "Mosaic is a rare exception of a team that deeply understands what the top investment banks, private equity funds, and private credit funds need, and is one of the few products actually delivering value today."

"I'm excited to be joining Mosaic's Board after backing the company early as a personal investor," said Troy Pospisil. "Mosaic is tackling a complex problem for a market I care deeply about, and I believe Ian and the world-class team he's assembled around him possess the unique mix of industry experience, technical depth, and relentlessness to actually change embedded behavior that hasn't evolved in 50 years. Amidst an AI hype cycle, Mosaic is sticking to the first principles of entrepreneurship that I admire: being customer-obsessed and using every available technology and resource – whether AI, workflow, or world-class support – to deliver outcomes that its customers truly value."

"When I worked in Investment Banking and Private Equity, I was always shocked at how much time some of the most expensive talent in the world spent trying to fix broken models with sheer brute force," said Ryan Shannon, Partner at Radical Ventures, who himself used to spend hundreds of hours updating deal models as an Associate at Private Equity giant TPG. "With Mosaic, that same expensive talent can instead spend their time thinking about the crucial decisions that separate good investments from great ones."

"Before Mosaic, thousands of investors (myself included) spent hundreds of hours iterating on generic spreadsheet templates to rebuild and refine the same calculation scaffolding for each new investment opportunity," said Ian Gutwinski, Founder & CEO of Mosaic. "Yet all those hours do nothing to improve investment outcomes. We built Mosaic so investors and bankers can spend less time linking and more time thinking. Our platform gives users the speed of automation and the reliability of deterministic calculations so that they can trust the analysis every time."

About Mosaic

Founded by Ian Gutwinski, Mosaic is an AI-driven deal modeling platform for private markets. It automates key analyses, such as LBOs and DCFs, using rules based calculations and AI workflows, helping private equity firms, credit firms, hedge funds, and investment banks spend less time on manual modeling, and more time on investment decisions.

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